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MARKEM Corporation to be Acquired by Dover Corporation

Published on 2006-08-28. Author : SpecialChem

KEENE, NH -- MARKEM President James Putnam announced the company's intention to be acquired by New York-based Dover Corporation [NYSE: DOV].

"This is an exciting opportunity for MARKEM," said Putnam. "With our industry undergoing significant changes it became clear that we needed to capitalize on our marketplace strength and pursue a strategy to best position MARKEM for the future."

MARKEM, a privately-held business, is headquartered in Keene, and employs more than 1,200 people worldwide.

As part of the agreement, MARKEM will retain its company name and remain at its Keene location. Dover Corporation believes in a decentralized management philosophy. MARKEM's current operational management will continue to manage the company.

"MARKEM has been in the Putnam family for almost 100 years. Throughout this process, the management has focused on the future of MARKEM and its employees," said MARKEM Chairman Thomas P. Putnam. "Part of the attractiveness of this agreement is the ability to strengthen the company for the long-term, and better secure a future for MARKEM employees in Keene and throughout the world."

The agreement with Dover Corporation reinforces and strengthens MARKEM's strong position in the wide-ranging product identification industry, creates growth opportunities for the future and preserves the company's position as a business and community leader in New Hampshire.

"We are excited by the possibilities that this combination with Dover offers the people of MARKEM, our customers, our communities and our business partners," said Jeffrey B. Miller, President of MARKEM Solutions. "It is evident that MARKEM will integrate well with Dover on the business side. It is equally important that Dover encourages and supports MARKEM in maintaining our core values and collaborative culture as well as our commitment to community."

Mike Whiteoak, Marketing Manager at MARKEM Systems Ltd commented "Being part of a $6 billion organisation opens up some great opportunities for future growth and development"

"I've been with MARKEM for over 20 years and, like many of my colleagues, take pride in a unique history and culture. In that time, I've seen the company build a formidable market presence, and at MSL we were delighted to learn that the Dover Corporation shares many of our values and dynamics".

"I'm sure that MARKEM will go from strength to strength whilst retaining our brand identity and business culture."

Founded in 1911 by F.A. Putnam as a shoe marking machinery company, MARKEM has grown into a trusted world leader in innovative and reliable product identification solutions for the world's leading companies. MARKEM continues to capitalize on emerging Radio Frequency Identification (RFID) and Electronic Product Code (EPC) applications by developing RFID solutions like the Cimjet® RFID tag encoder/applicator and CoLOS RFID Software and RFID implementation services.

MARKEM Corporation

MARKEM Corporation is a trusted world leader in innovative and reliable product identification solutions for the world's leading companies. Solutions include equipment, software, supplies and services for industries including food and beverage, cosmetics, pharmaceutical, and electronics. MARKEM is also on the leading edge of RFID and product traceability implementation. The company operates from Headquarters in Keene, New Hampshire, and has additional development and manufacturing facilities in San Diego, California, Nottingham, England and Schoten, Belgium with subsidiary companies, distributors and representatives in over 50 countries.

Dover Corporation

Dover Corporation is a diversified industrial manufacturer with $6 billion in annualized revenue from operating companies that manufacture specialized industrial products and equipment. Dover consists of over 50 companies, including Datamax, IMAJE, and O'Neil Product Development in the product identification industry. Dover products are used in over 100 countries around the world.

Source: MARKEM Corporation


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